Miami-based Brightstar Corp, one of the largest distributors of mobile devices in the world, has acquired controlling equity stake in Bharti Group’s fixed line telephone handset maker and mobile and IT peripherals distributor Beetel Teletech for an undisclosed amount.
“India represents a tremendous growth opportunity for both devices and attached services as consumers continue to upgrade from feature to smartphones in record numbers,” said Marcelo Claure, founder and CEO of Brightstar Corp.
Bharti Enterprises’ vice chairman Rakesh Bharti Mittal said, “The new mobile businesses and related technologies that Brightstar is bringing to Beetel will help drive significant growth by leveraging our deep distribution strength.”
Founded 1985, Beetel has more than 500 distributors and partners, 10,000 retailers and 28 warehouses across the country. The company is one of the key players in the manufacturing of fixed line telephones for Airtel, BSNL and MTNL, apart from selling directly to the consumer. It also exports to over 30 countries across five continents.
Following the completion of the deal, Beetel will retain its name and all the existing employees and continue operating from its headquarters in Gurgaon, India, the statement said.
(Edited by Joby Puthuparampil Johnson)